According to the recently announced plan on the development of the Saudi economy until 2030, the country seeks an increase in Japanese and Malaysian investments in the fields of energy and water distillation technologies.
These countries previously invested in the Saudi economy, but in the next decade the Kingdom plans to expand production and investment spheres. This is why Saudi leaders seek closer cooperation with the two countries in these areas.
According to al Rashidi, Saudi Arabia particularly wants to attract Japanese investors to the privatization of state-owned companies, as well as its service sector.
In his turn, the head of the Saudi Center for Strategic Studies, Anwar Ishki, told Sputnik Arabic that Saudi Arabia views Japan as its main partner when it comes to reorienting the Saudi economy from oil production to manufacturing and high technologies. Japan, on the other hand, needs oil and minerals that Saudi Arabia can offer.
Saudi authorities hope that such cooperation will give an impetus to the development of the Kingdom, the expert stressed. Tokyo and Riyadh have already established a joint private bank.